Hines Snaps Up Luxury Rentals in Affluent Westchester Suburb
JLL Capital Markets secured the $63-million sale of Quarry Place at Tuckahoe, a 108-unit luxury rental community located in the affluent suburb of Tuckahoe, Westchester County. Senior managing directors Jose Cruz and Steve Simonelli, along with director Austin Pierce represented the seller, Veris Residential. The buyer was Hines.
“Quarry Place represented an exceptional opportunity for investors to acquire a luxury transit-oriented apartment community in one of Westchester County’s most affluent downtowns,” said Cruz. “The property’s prime location, high-quality finishes and strong occupancy levels demonstrate the continued strength of the suburban multi-housing market.”
Built in 2016, Quarry Place features 61 one- and 47 two-bedroom units with an average unit size of 977 square feet. The property is currently 96% occupied and includes a 3,275-square-foot ground-floor retail space leased to Orangetheory Fitness. It is located a five-minute walk from the Tuckahoe Metro-North Train Station, providing residents transit access to Grand Central Terminal in under 45 minutes
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout